With the retirement of one of its founders, one of New Jersey’s largest privately held diversified real estate companies has decided to take on some changes. Bridgewater, N.J.-based SK Properties has rebranded as Kushner Real Estate and the 31-year-old firm is expanding its development and management activities in the residential, commercial and industrial sectors.

Eugene Schenkman, who with Murray Kushner founded the company in 1979, has stepped down from daily operations. However, he will continue to serve as vice chairman.

“It’s business as usual,” president Jonathan Kushner said when announcing the news. “With Gene Schenkman deciding to retire from the day-to-day operations of the company, we felt it was the right time to enhance our brand with a new look and feel that reflect the growth strategies.”

KRE Group’s most current project is 225 Grand, a partnership with Ironstate Development Co. The project is a 15-story rental building featuring 348 residences in downtown Jersey City. KRE is also building 500 luxury rental apartments in eastern Pennsylvania and is currently designing a new apartment tower slated for a site on lower Fifth Ave. in Manhattan.

KRE owns and manages more than 5 million square feet of office, warehouse and retail space. It also has substantial ownership in 9,700 apartments, of which 3,400 are managed out of its New Jersey office.